100 pips - page 7
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Got an idea for a great Scalping System
I have been testing our the latest version of 100 pips V4 and I made some modifications to the stop-loss that seem interesting.
All I did was change the stop loss to 15 pips (from 50) and it works great for the EURUSD and GBPUSD. It works OK for the USDJPY and a couple other, but I noticed the lesser profiled currency pairs, you would consistantly lose money.
This got me thinking. What if someone modified the 100 pips V4 to do the reverse for the lesser currency pairs? In other words, instead of a 15 pip stop loss, make it a 15 pip take profit. When you were suppose to go long, go short instead, and so on.
I don't know much about coding because I am rather new to the Metatrader platform, but I don't think it would take too much work just to reverse everything.
Now, I understand there is spread to take into consideration and that might effect the ultimate outcome of these currency pairs, but it is at least worth a shot.
Anyhow, take a look at the screen shots and you be the judge. The time frame for these is from Jan. 18, 2006 to Feb. 10, 2006. Not even a month and I am out of cash on a number of the currency pairs.
The following is a list that consistantly loses money.
NZDJPY
AUDCAD
AUDNZD
AUDJPY
EURCAD
NZDUSD
CHFJPY
GBPCHF
GBPJPY
AUDUSD
Anyhow, it is just a thought if someone could give up an hour or so and convert it over.
Thanks.
By the way, if you haven't downloaded the latest version of Metatrader 4 (10 February 2006) then do so now! Many bugs have been cleaned up and it is running nice. Back Tester has given me no problems so far and it had in the past.
I have been testing our the latest version of 100 pips V4 and I made some modifications to the stop-loss that seem interesting.
All I did was change the stop loss to 15 pips (from 50) and it works great for the EURUSD and GBPUSD. It works OK for the USDJPY and a couple other, but I noticed the lesser profiled currency pairs, you would consistantly lose money.
Thanks.Hi holyguy7,
do you have any forward testing results? Can you post a statement if you do? i.e of forward demo testing, not backtesting.
Which timeframe did you use?
Many thanks
Hi holyguy7,
do you have any forward testing results? Can you post a statement if you do? i.e of forward demo testing, not backtesting.
Which timeframe did you use?
Many thanksI am kind of new to Metatrader. How would I do that? Sorry for being kind of dumb but I am not sure how to Foward Test a stategy.
If you can give me a step by step process or a link on how to do that, I would appeciate it.
Thanks
o.k.
Sorry if I have confused you.
Forward testing is basically, real-time trading with current market action, not back-testing with the strategy tester in Metatrader for example.
I ask you about forward testing results because I am very wary of backtesting - I am generally not a fan of excessive backtesting from my experience with it. I have often found that with Metatrader a EA can backtest wonderfully, yet in forward real-time trading it fails miserably.
I often observe people on this forum and many others posting backtesting results with poor modelling quality - raving about how good an expert is, say on 50% modelling quality, even 25% - this is nonsense! Such results with low modelling quality should be taken with a pinch of salt. If you want to have any real idea of how a EA might perform live you need at least 80% modelling quality, even then it will only give you a guide of what to expect in the future.
Take a look here:
https://www.mql5.com/en/forum/173018
then take a look here:
https://www.mql5.com/en/forum/173018/page2
you will see exactly what I mean.
Low modelling quality with MT4 usually means that you have holes in your data, so the tester will simulate price movements.
Anyway to forward test the 100 pips EA, simply open up some pairs and attach the EA to the charts - in whatever timeframe you think will be good etc (some people have mentioned 5min chart for this EA, other 1hr chart). When attaching it to a chart put a tick in the box "allow live trading"
Also, make sure you have pressed the "Experts Advisor" button at the top of the screen - this will put a smiley face in the right hand corner - which means that the expert is enabled for realtime trading.
If you need any further assistance then send me a private message and I will be happy to offer any help.
thanks
EA modifications
I am new to this forum so please be patient with me. I am very busy in several forums besides this one.
I have been programming EAs for over 6 months and when I have the time I will look at this one to see if there are ways to improve it. Hope to do so over the next week, maybe less.
MrPip
Hi
I thing it's this is a good one to test . Fxant.mq4 ( post #55)
I test it, just 1 week from March 6, 2006 to 11 March, 2006.
It's Amazing.... wow. I attach that one
I use TF H4 for EURUSD
Best regards
Hi, Tomsd.
I took your suggestion seriously
and coded the following TEA (toy expert advisor).
240 pips in the last 5 hours and counting in EURUSD,M30! 95% winning trades! Not bad, huh?
Amuse yourself.
PS: Of course strategy testers are useless here as it works within the bar and the testers just simulate this kind of motion.
RenatoHi, Tomsd.
I took your suggestion seriously
and coded the following TEA (toy expert advisor).
240 pips in the last 5 hours and counting in EURUSD,M30! 95% winning trades! Not bad, huh?
Amuse yourself.
PS: Of course strategy testers are useless here as it works within the bar and the testers just simulate this kind of motion.
RenatoHi ! renatops !
Could you give us a version wiht adjustable parameters?
Thanks.
Put the indicator in your experts folder and compile it in MQL. After that open MT4 in your navigator window in the experts you will se the indicator. click on the indicator and drag it to the chart and after that you have to click on the EXPERST ADVISORS BUTTON at the top.